Global Window and Door Demand to Grow 4.3% Annually
Global demand for windows and doors is expected to grow 4.3 percent per annum to $167 billion in 2013, according to a new study from The Freedonia Group Inc. The Cleveland-based research firm projects that China will account for more than half of that expansion, noting that it will surpass the U.S. as the largest market in the world within the next few years.
The 4.3 percant annual growth rate is roughly one-half the pace achieved between 2003 and 2008. Much of this deceleration will be caused by projected declines in prices for plastic and metal windows and doors from their elevated 2008 level, but a weak outlook for building construction in the large West European market will also hinder gains, the study suggests.
Window and door demand in China is forecast to rise nearly 12 percent annually to $40 billion in 2013, outpacing all other major national markets. Although the rate of growth will slow from the pace of the 2003-2008 period (when demand tripled), the size of the gains will continue to increase. China’s expansion will be driven by the rapid growth of building construction in that country, especially in the
nonresidential market, Freedonia reports.
Other markets expected to experience above average growth between 2008 and 2013 include India and Indonesia. Although window and door demand in these countries is much smaller than that in China, relatively low per capita demand levels provide the potential for strong market expansion as incomes in both nations continue to rise. The U.S. was the largest national market for windows and doors in 2008, but its share of the global window and door market is being eroded by the rising emerging markets, especially China.
Plastic windows and doors will likely be the fastest growing products through 2013; however, these products will only make up one-fifth of the global market. Gains will largely be driven by demand in China, where plastic products are gaining market share at the expense of metal products. Plastic materials have benefited from their relatively low cost and reduced maintenance requirements. Still, their insulative properties are expected to be one of the most important contributors to their
growth over the forecast period, as building owners around the world seek to reduce the
energy consumed by climate control systems.
The complete, 379-page World Windows & Doors report is available for $6,100 from
The Freedonia Group Inc. Information is available by calling 440/684-9600 or by visiting the company's Web site at www.freedoniagroup.com.